Ciena (CIEN) Message Board

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Technology Stocks : Ciena (CIEN)

CIEN 200.29

+2.1%

Nov 26 4:00 PM EST

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To: James Fulop who wrote (5498)	11/18/1998 9:51:00 PM
From: DanZ	Read Replies (1) of 12623

The CIEN chart looks fair to me. The main concern is that it closed below its 20 day moving average today for the first time since October 19 when it rallied above it. The 20 day moving average may now provide resistance and support is at about 12. This is not a very good risk/reward. I'm not suggesting that the stock will trade to 12, but I wouldn't hold a long position in this stock unless it moves back above 16 3/4. It would be even better if it closes above 16 3/4 before taking a position. I covered the last of my short position at 16 7/16 and my next move will probably be long when I think the risk/reward is favorable. Best to all, Dan

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